Osprey Bitcoin Trust

Osprey Bitcoin Trust's sponsor dismissed Grant Thornton LLP as its independent registered public accounting firm on June 16, 2026. The dismissal was not due to any disagreements, although a previously disclosed material weakness in internal control over financial reporting related to administrator oversight remains under remediation. Subsequently, Cherry Bekaert LLP was engaged on June 17, 2026, to serve as the Trust's new auditor for the fiscal year ending December 31, 2026.

Osprey Bitcoin Trust reported a significant decline in net assets, falling 53.06% to $64.17 million as of March 31, 2026, from $136.70 million at the end of 2025. This decrease was primarily driven by a 22.4% drop in Net Asset Value per Share to $21.82 and substantial share redemptions totaling $50.77 million during the quarter. The Trust also experienced a net change in unrealized depreciation on Bitcoin investments of $52.63 million.